Geosyntec was engaged by a midstream energy company committed to transparency and disclosure of its environmental, social and governance (ESG) and sustainability performance to provide strategic advice in developing and implementing ESG and sustainability goals that drive business performance. The company is a premier energy company engaged in the gathering, processing, treating, compression, storage, transportation, and marketing of natural gas, natural gas liquids, crude oil, and the gathering and disposal of produced water.
Geosyntec's Scope of Services
Geosyntec supports the company toward their sustainability and ESG goals, including a review and update of the company's materiality assessment, strategic advice for development of the company's ESG plan, and disclosure of its annual sustainability report. The company previously conducted a materiality assessment and risk management process as the basis of their approach to ESG and sustainability and to identify key components and topic areas for its ESG and sustainability goals.Geosyntec's scope of work builds on these prior activities. Our comprehensive understanding and approach allows the energy company to efficiently maintain and enhance its ESG and sustainability programs. A materiality review helps identify gaps and any material issues not already represented in their existing risk management process. Our assessment includes changes to business context and approach, legislative or regulatory changes, any potential mergers, acquisitions, divestitures, new or additional key performance indicators, and internal roles and responsibilities. Our benchmarking study on carbon management, energy transition, and circular economy facilitates near- and long-term decision making. By identifying gaps or new material issues, Geosyntec's ESG strategic support directly contributes to our client's efforts to efficiently address expectations or requests from investors, internal and external stakeholders and the Board of Directors, and reduce legal risk around reporting.
With a clearer understanding of these changing factors, Geosyntec supports our client in developing a three-year ESG strategy to address identified issues and capitalize on opportunities moving forward. We do this by developing internal and public-facing marketing and website materials, reviewing reporting frameworks, trends, and assessing previously scored reports by key rating organizations to identify opportunities to close gaps and increase scores.
Our professional team successfully engaged with diverse internal and external stakeholders participating in the materiality assessment, benchmarking and research exercise process to refresh the ESG strategy and provide valuable information and statistics to inform decision-making efforts that align with our client’s current and future business strategy. In addition to a fit for purpose ESG strategy, Geosyntec’s work includes overall project management and content writing for our client’s Carbon Management Plan and Annual Sustainability Report.
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- Location: United States
- Client: Confidential
- Project Practice Areas: Environmental Management
- Type of Facility: Industry Standards
- Services Provided: ESG Strategic Support, Sustainability Program Strategic Support, Materiality Assessment, Annual Sustainability Reports, Carbon Management Plan
- Type of Work: ESG and Sustainability Programs
- Governing Regulation: Energy